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Why Investigate?

Wondering why you should join us in calling on President Obama to investigate the banks?

Wall Street banks continue to profit from the brutal housing crisis that has displaced an estimated 7 million American families from their homes. After receiving a massive taxpayer bailout, these same banks continue business as usual. Meanwhile, the public pays a heavy price for Wall Street’s corruption and greed — millions are out of work, face foreclosure, and feel the pain of ever-worsening economic conditions.

Accountability is long overdue. Please join us in calling on President Obama to stand up to the big banks and push for a full investigation, compensation to homeowners, and real accountability for those responsible.

Read these news articles that detail and explain the banks’ involvement in America’s foreclosure crisis.

1. “Regulators Push Foreclosure Crisis Solution,” The Street, 03-07-11 
http://www.thestreet.com/story/11033974/regulators-push-foreclosure-crisis-solution.html

2. “A Deal That Wouldn’t Sting,” New York Times, 10-29-2011 
http://www.nytimes.com/2011/10/30/business/a-foreclosure-settlement-that-wouldnt-sting.html?_r=1

3. “Faulty mortgage papers a widespread problem,” Associated Press, 09-02-2011 
http://articles.boston.com/2011-09-02/business/30106517_1_robo-signing-banks-and-other-mortgage-halt-foreclosures

4. “Wells Fargo Target of Justice Department Probe,” Huffington Post, 07-26-2011 
http://www.huffingtonpost.com/2011/07/26/wells-fargo-justice-department-probe_n_910425.html

5. “The Racial Wealth Gap’s Larger Than Ever.” Color Lines, 04-26-2011 
http://colorlines.com/archives/2011/07/wealth_gap_explosion.html

6. “Big bank execs: What they take home,” CNN Money report 
http://money.cnn.com/news/specials/storysupplement/ceopay/

7. “Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress,” Bloomberg News, 11-28-2011 
http://www.bloomberg.com/news/print/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html

8. How Wall Street Speculation and Tax Avoidance are Starving Public Revenues,” National People’s Action, 03-2011 
http://makewallstreetpay.org/bigbankdrain/big-bank-tax-drain.pdf

9. “How did the financial crisis threaten Main Street?” Federal Reserve Bank of San Francisco 
http://www.frbsf.org/econanswers/crisis_q3more.htm

10. “Attorneys General of California and Nevada Announce Mortgage Investigation Alliance,” California Department of Justice, 12-06-11 
http://oag.ca.gov/news/press_release2590

11. “How to Stop the Drop in Home Values,” New York Times Op-ed, 10-13-2011 
http://www.nytimes.com/2011/10/13/opinion/how-to-stop-the-drop-in-home-values.html?_r=2&scp=1&sq=feldstein&st=cse

12. “‘Occupy Our Homes’ Protesters Highlight Foreclosures Nationwide,” Huffington Post, 12-06-2011 
http://www.huffingtonpost.com/2011/12/06/occupy-our-homes-foreclosures_n_1130375.html